Fundstrat co-founder and Bitmine Immersion Technologies (BMNR) Chairman Tom Lee expects the bull market’s momentum to continue in 2026, with the S&P 500 (SPX) reaching 7,700. That implies upside of 11.6% from Thursday’s close.
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“After 3 years >20% yearly gains, bull market still alive,” said Lee. “The significant ‘Wall of Worry’ is a tailwind for bull market.” Lee had a SPX price target of 6,600 for 2025, which has already been met.
Lee Recommends Tech and Crypto Stocks
Lee expects the successor of Fed Chair Jerome Powell to have a more dovish monetary policy stance, creating another tailwind for stocks. Powell’s term is set to end in May 2026, with many expecting President Trump to nominate National Economic Council Director Kevin Hassett to the position.
Furthermore, Lee recommends exposure to tech, crypto, materials, energy, and financial stocks. He joins a growing crowd of Wall Street firms bullish for next year, including Deutsche Bank with a price target of 8,100 and RBC Capital at 7,750.
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